Page 11 - Latest Updates on Fiscal Deficit
RBI should not print money to finance fiscal deficit: Pinaki Chakraborty
High inflation is certainly a concern and there is a need to stabilise inflation to a level which is manageable, he says
 "RBI should not print money to finance fiscal deficit: Pinaki Chakraborty")
Government spending grew 2% YoY in FY21: Motilal Oswal Financial Services
Terming FY21 as an 'exceptional year' Motilal Oswal Financial Services (MOFSL) in a report say government spending grew 2 per cent last fiscal.
 "Government spending grew 2% YoY in FY21: Motilal Oswal Financial Services")
Fiscal deficit at 8.2% in April-May as tax collection rises, lockdowns ease
Deficit was less 30 per cent less of last-year's level amid the nationwide lockdown to contain the coronavirus.
 "Fiscal deficit at 8.2% in April-May as tax collection rises, lockdowns ease")
New pandemic package to raise fiscal deficit by 60 bps, says report
The package can offer an additional liquidity window of Rs 70,000 crore to banks: report
 "New pandemic package to raise fiscal deficit by 60 bps, says report")
Centre should abandon fiscal targets in the time of crisis: CPI (M)
The CPI(M) on Monday said the government can raise money to pay compensation to the families of Covid-19 victims
Rising inflation risk
Ignoring it for long could increase longer-term costs
 "Rising inflation risk")
Govt asks ministries, departments to cut 'controllable' expenditure by 20%
The move comes amid concerns that the fiscal deficit may exceed the FY22 target of 6.8% of GDP
 "Govt asks ministries, departments to cut 'controllable' expenditure by 20%")
US budget deficit soars to $2 tn during first 8 months FY21: Treasury Dept
The US budget deficit soared to $2.1 trillion during the first eight months of fiscal year 2021, which ends on September 30, the Treasury Department reported
 "US budget deficit soars to $2 tn during first 8 months FY21: Treasury Dept")
Fed tapering and emerging markets
The year 2021 will be one of the strongest years for global growth in history
 "Fed tapering and emerging markets")
Statsguru: A decline in growth poses risks to govt's fiscal forecast
While tax collections provided some reprieve, the government seems to be consistently underperforming on the disinvestment side.
 "Statsguru: A decline in growth poses risks to govt's fiscal forecast")
FM Nirmala Sitharaman says macroeconomic fundamentals are sound
The finance ministry's assessment of the impact of the second wave on the economy will take a bit longer considering the timings and uncertainties, she said
 "FM Nirmala Sitharaman says macroeconomic fundamentals are sound")
Do not politicise GST Council: Finance Minister Nirmala Sitharaman
The government is conscious of the intensity of the second wave of Covid-19 and is assessing its full impact before coming out with further packages and interventions, says FM Sitharaman
 "Do not politicise GST Council: Finance Minister Nirmala Sitharaman")
Structural weakness
India needs to overhaul the tax system
 "Structural weakness")
Exports jump to $32.21 bn in May, up 67%; trade deficit at $6.32 billion
India's exports grew by 67.39% to $32.21 billion in May driven by healthy growth in sectors such as engineering, pharmaceuticals, petroleum products and chemicals
 "Exports jump to $32.21 bn in May, up 67%; trade deficit at $6.32 billion")
Best of BS Opinion: Prioritising expenditure, moving on infra agenda & more
Here are the best of Business Standard's opinion pieces for Wednesday
 "Best of BS Opinion: Prioritising expenditure, moving on infra agenda & more")
Prioritising expenditure
Govt must focus on providing relief to the needy at this point
 "Prioritising expenditure")
Top Headlines: GDP shrinks by 7.3%, fiscal deficit drops below target
GDP shrinks by 7.3 percent in FY 2020-21, Carlyle Group to acquire a controlling stake of over 50 per cent in PNB Housing Finance. Top news this morning.
 "Top Headlines: GDP shrinks by 7.3%, fiscal deficit drops below target")
Centre's fiscal deficit for FY21 settles at 9.2% of GDP vs target of 9.5%
This was on the back of better-than-expected revenue receipts with expenditure staying broadly at the level targeted in the revised estimates of the Budget
 "Centre's fiscal deficit for FY21 settles at 9.2% of GDP vs target of 9.5%")
India's fiscal deficit at 9.3% of GDP in 2020-21: Govt data
Unveiling the revenue-expenditure data of the Union government for 2020-21, the Controller General of Accounts (CGA) on Monday said that the revenue deficit at the end of the fiscal was 7.42 per cent
 "India's fiscal deficit at 9.3% of GDP in 2020-21: Govt data")
Best of BS Opinion: Accounting gains, games promoters play & more
Here are the best of Business Standard's opinion pieces for Friday
 "Best of BS Opinion: Accounting gains, games promoters play & more")
